Suki, maker of an AI-backed healthcare voice tool, announced it raised $70 million in Series D funding, bringing its total raise to $165 million.

Hedosophia led the round, with additional investment from Venrock and participation by existing investors Flare Capital, March Capital, inHealth Ventures and Breyer Capital.

WHAT IT DOES

Suki's offerings include Suki Assistant, an AI-enabled voice tool that generates notes, takes dictation, recommends codes and answers clinicians' questions. The offering integrates with major EHRs to pull and write data.

Its Suki Platform comprises a suite of developer tools for technology companies seeking to implement AI experiences into their offerings.  

The company said it will use the funds to help strengthen its collaborations with health systems and its EHR partners, including Oracle Cerner, Athena, Epic and MEDITECH. It will also speed up product development to expand its offerings. 

“Since Suki was founded seven years ago, our mission has never wavered.  We want to make healthcare technology invisible and assistive so clinicians can focus on what’s most important: their patients. This new funding gives us the fuel to support our rapid growth and accelerate our innovation," Punit Soni, CEO and founder of Suki, told MobiHealthNews in an email. 

"More importantly, it enables us to serve clinicians at scale by giving them cutting-edge AI tools that save them time and reduce cognitive burden. Suki is the only company in the ecosystem that focuses on all segments of the market, integrates with all major EHRs, works in all settings, all form factors, and all specialties for both urban and rural healthcare.”

MARKET SNAPSHOT

In 2021, the voice-based physician assistant company secured $55 million in Series C funding, two years after closing a $20 million Series C funding round. 

The use of ambient scribes has increased over the last several years. Stanford Health Care's medical informatics director, Shreya Shah, recently joined HIMSS TV at the HIMSS AI Conference in Boston to discuss the health system's use of genAI to ease its clinicians' clinical documentation burden.

Another company offering clinical documentation assistance is San Francisco-based AI-enabled ambient automation platform Augmedix. In May, Augmedix saw its stock price fall more than 40% after reporting a slowdown in provider purchasing commitments and downgrading its 2024 full-year revenue outlook from $60 to $62 million to $52 to $55 million. 

Nuance also offers a clinical documentation tool dubbed Dragon Ambient eXperience (DAX) Copilot, formerly DAX Express, which uses the latest version of OpenAI's artificial intelligence language model GPT-4.